NAICS 523940: Portfolio Management and Investment Advice
This industry comprises establishments primarily engaged in managing the portfolio assets (i.e., funds) of others on a fee or commission basis and/or providing customized investment advice to clients on a fee basis.  Establishments providing portfolio management have the authority to make investment decisions, and they derive fees based on the size and/or overall performance of the portfolio.  Establishments providing investment advice provide financial planning advice and investment counseling to meet the goals and needs of specific clients, but do not have the authority to execute trades.

Illustrative Examples:

Financial planning services, customized, fees paid by client
Investment advisory services, customized, fees paid by client
Managing trusts
Portfolio fund managing

ExioML sector: Services auxiliary to financial intermediation (67)
Region: US | Year: 2022
Sector value added: 469981.27788 M EUR | Employment: 1762.64749713 thousand persons
Sector GHG emissions: 5220632767.54 kg CO2 eq | Energy carrier net total: 101436.728861 TJ | Carbon intensity: 0.011108171778861755

Company: Blackstone Inc
Blackstone is the world's largest alternative asset manager, with more than $1 trillion in AUM. We serve institutional and individual investors by building strong businesses that deliver lasting value.